Is it the right time to buy cement stocks ?

After China, India is the second largest producer of cement in the world. Current production capacity is around 370 MT which is expected to grow to 550 MT by FY 2020, according to Ministry of External Affairs, Govt. of India 

Housing Industry creates maximum demand of cement after the infrastructure sectors. Government is working on housing for all by 2022. Infrastructure projects are getting cleared at a faster rate. Many highways will be built with cement concrete.

cement use of various sectors

 

Cement sector has underperformed in the last couple of years. This is quite cyclic sector. The construction activity slows down in rainy seasons and increases in the other seasons.

Lets check out what the charts are saying about top cement stocks.

 

1.Ambuja Cement CMP 205

Stock is forming a hammer candlestick on the monthly chart at the lower trendline support zone of 180

ambuja cement

2. ACC CMP 1350

ACC forming similar kind of pattern like Ambuja support at 1200

acc

3.  Mangalam Cement CMP 195

180-190 crucial support zone for the stock

manglam

4. JK Lakshmi Cement CMP 326

Stock is forming bullish flag pattern on the monthly chart support at 300. Any weekly close above 370 will be flag breakout

jk cement stocks

 

Caution: Charts are for information purpose only. Not any recommendation of trading or investing. Readers should do their own research or consult their financial advisor.

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